My home is awaiting bank approval of a short sale.

February 8th, 2010 by Jarad

Question: If I declare bankruptcy now with regard to my other debts, will it prevent the short sale from going through?

Answer: -Yes, for only a short period of time.  Eventually it will foreclose. Bankruptcy only postpones an auction or short sale which buys you more time. In fact, many short sale investors will use bankruptcy as an option if they need to buy more time so it doesn’t go to auction, as long as it’s in the best interest of the homeowner.

Tags: ,

Leave a Reply

Ask The Expert?

Have a question that hasn't been answered? Ask us a question by clicking here.

Search Blog

Featured Product

foreclosure home study course
"The Investors Complete Foreclosure Home Study Course - Only $47"

Discover a Proven System for Buying Real Estate Foreclosures 30%, 40%, and 50% Below Market Value. Generate Huge Returns Using This Step-by-Step Foreclosure System.

Learn More - Click Here

Build Your Wealth

See our investment properties

Looking for Great Returns and Positive Cashflow? Build your wealth by investing in real estate.

Check out our inventory! »

Free Foreclosure Reports

Affiliate Disclosure

We review products from time to time and receive compensation from the companies whose products we review. We review each product thoroughly and give high marks to only the very best. We are independently owned and the opinions expressed here are our own...

Comodo SSL